EXMO Cancels Plans To Launch Public ICO

EXMO Cryptocurrency platform... Cancels Plans To Launch Public ICO Due To Full Supply Of Own Funds...

EXMO news

EXMO Cancels Plans To Launch Public ICO


EXMO is calling off a planned crowdsale to the wider investing public due to full supply of its own funds for margin loans and other product launches.

"A stable positive dynamics of all financial indicators of the platform and the incredible users number increase (currently, we have more than 1.5 million traders, and there are more than 10 000 people that register on EXMO every day) allows us to fully supply our product business plan, - said co-founder of the platform Ivan Petukhovsky, - and as far the process of selling units of a cryptocurrency ahead of its launch is unclear, EXMO can not guarantee the absence of unexpected changes in the legal framework, which in turn will lead to high risks for our investors. We find this situation unacceptable, as the safety of our partners is our first priority."

We remind, that previously collected funds from crowdsale were supposed to be spent on the introduction of margin loans, the creation of an insurance fund for margin loans and obtaining the necessary licenses.

The decision to add the function of margin loans is primarily due to the increased demand of traders. By adding a new product, exchange users will be able to earn more on currency fluctuations through a loan of additional funds.

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Best regards, EXMO team